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Corporate Spain Gets A Dose Of Wage Devaluation

By

David Roman

Sep 24, 2014 7:28 am ET

It may be hard to believe, but data shows Spanish big fish are taking deeper salary cuts than average Joes. In a rare disclosure late Tuesday, the country’s stock market regulator said that the average 2013 remuneration for a board member in the 35 companies listed in Madrid’s blue-chip index IBEX-35 fell 4.2% from 2012.